ED to open accountants’ winter school

Phillimon Mhlanga

HARARE – President Emmerson Mnangagwa is expected to officially open the Institute of Chartered Accountants of Zimbabwe (ICAZ)’s winter school, which roars to life tomorrow in Victoria Falls.

The event runs up to Sunday at the Elephant Hills Hotel.

More than 200 delegates, including chief executives, chief finance officers and other accounting professionals, who are decision makers are expected to attend ICAZ’s flagship event.

Other top speakers scheduled for the meeting are Reserve Bank of Zimbabwe governor John Mangudya, Jonas Mushosho Old Mutual managing director rest of Africa, Morgan Nzwere Seed Co Limited group CEO and ZB Financial Holdings CEO Ronald Mutandagayi.

The foray by Mnangagwa into the country’s oldest and largest professional accountancy body’s event, which runs under the theme ,Celebrating Our First 100 Years, A Stepping Stone to The Next 100 Years, comes at a time when government is now seriously courting offshore investors for brown and greenfield projects and acquisitions in the country.

ICAZ president Martin Makaya confirmed to Business Times that Mnangagwa would be the guest of honour at the centenary congress which “will be largest Winter School ICAZ has ever held as we celebrate our first 100 years”.

“It is pleasing to note that members from different generations and different parts of the world have signed up for the Winter School already.  The President of Zimbabwe Emmerson Mnangagwa will grace this notable occasion as we celebrate our Centenary,” said Makaya, a partner at BDO Zimbabwe Chartered Accountants.

Mnangagwa’s administration, which has since roped in Chartered Accountants (CAs) to revamp the public sector accounting system, believes that CAs are watchdogs of public trust and can help it structure off shore deals that would not prejudice the country.

Government is repositioning the country by recalibrating its policies, to regain confidence from international investors.

Investors rely on financial information and one of the most important duties of a CAs is to oversee the issues surrounding the capital structure and shaping the strategy of organisations.

Makaya said ICAZ has contributed significantly in the development of the economy adding that CAs are responsible for managing financial risk of organisations in addition to the traditional financial stewardship, play a critical role towards the overall economic turnaround of the economy.

“Key issues that ICAZ has contributed on include accounting for Treasury bills where ICAZ conducted a research and composed the guidance on the proper accounting for the different types of treasury bills issued by the government. Also, ICAZ developed guidance on the functional currency in light of the recent cash and foreign currency crisis that Zimbabwe is facing,” he said.

“On the International Public Sector Accounting Standards adoption, ICAZ has submitted detailed comments on the roadmap. ICAZ also made a submission to Government on land compensation.”

Makaya said ICAZ made submission on the proposed amendment to the Companies act and also presented at the all-stakeholder workshop hosted by the consultants developing the Companies Act. ICAZ, he said, submitted its comments to the Parliament of Zimbabwe on the draft Corporate Governance Bill which is now law.

Related Articles

Leave a Reply

Back to top button